Amazon's quarterly revenue reached $201.9 billion, driven by 37% growth in its AWS cloud division and a $25 billion annual run rate for AI services. Although revenue surpassed the $200 billion mark, it slightly missed analyst expectations, and net income decreased to $20.7 billion compared to the previous year. The company also unveiled a $220 billion capital expenditure plan for AI expansion, which has renewed investor concerns regarding cash flow and future returns.
AWS growth accelerated to 39.3%, but net income declined from a year earlier and free cash flow turned to an outflow as capital spending increased.
Read the full storyNet income fell to $20.69 billion, while AWS posted operating income of $17.8 billion and the company forecast sales of up to $247 billion in the fourth quarter.
Amazon officially released its Q3 2026 financial report on Thursday, confirming sustained AWS growth after quarterly revenue surpassed the $200 billion milestone.